Macy’s (NYSE:M) Earns “Market Perform” Rating from Telsey Advisory Group

Macy’s (NYSE:M)‘s stock had its “market perform” rating reaffirmed by Telsey Advisory Group in a research report issued on Thursday, Benzinga reports. They presently have a $21.00 price target on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 5.82% from the company’s previous close.

Other analysts have also issued reports about the company. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. Morgan Stanley lowered their price objective on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and boosted their price target for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. StockNews.com began coverage on shares of Macy’s in a research note on Saturday, March 23rd. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $17.45.

Macy’s Stock Up 4.0 %

M stock opened at $19.85 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The firm’s fifty day simple moving average is $19.43 and its 200-day simple moving average is $16.30. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10. The company has a market capitalization of $5.44 billion, a P/E ratio of 53.64 and a beta of 2.14.

Macy’s (NYSE:M) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter last year, the company earned $1.88 EPS. The business’s revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Macy’s will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Macy’s

In related news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now owns 21,436 shares in the company, valued at approximately $437,937.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Macy’s news, SVP Paul Griscom sold 2,969 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total transaction of $60,656.67. Following the transaction, the senior vice president now directly owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adrian V. Mitchell sold 13,249 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the sale, the chief financial officer now directly owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The disclosure for this sale can be found here. Insiders sold 152,994 shares of company stock worth $3,120,008 over the last 90 days. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Large investors have recently made changes to their positions in the stock. Glassman Wealth Services increased its position in shares of Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after buying an additional 743 shares in the last quarter. Lindbrook Capital LLC raised its position in Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after acquiring an additional 944 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter valued at approximately $26,000. Atlas Capital Advisors LLC purchased a new position in shares of Macy’s during the 4th quarter worth approximately $29,000. Finally, Quarry LP acquired a new position in shares of Macy’s during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.